DR. SABINE COPPENS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DR. SABINE COPPENS
Largest movements
- Cash +€33,627
up €33,627 (+41.8%), from €80,457 to €114,084
mainly Net result for the year (+€110,998) and Other debts (+€15,232)
- Tangible fixed assets -€12,420
down €12,420 (-29.9%), from €41,550 to €29,130
of which Furniture and vehicles: -€11,753
- Reserves +€15,305
up €15,305 (+2.7%), from €571,436 to €586,741
- Other debts +€15,232
up €15,232 (+13.9%), from €109,378 to €124,610
- Financial income -€28,078
down €28,078 (-63.5%), from €44,234 to €16,156
- Gross operating margin -€17,397
down €17,397 (-10.1%), from €171,790 to €154,393
- Taxes -€14,344
down €14,344 (-24.0%), from €59,888 to €45,544
- Financial charges -€2,339
down €2,339 (-94.0%), from €2,489 to €149
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €733,144 | €758,429 | +€25,285 | +3.4% |
| Fixed assets | 21/28 | €46,550 | €34,130 | -€12,420 | -26.7% |
| Tangible fixed assets | 22/27 | €41,550 | €29,130 | -€12,420 | -29.9% |
| Plant, machinery and equipment | 23 | €1,272 | €606 | -€666 | -52.4% |
| Furniture and vehicles | 24 | €40,278 | €28,524 | -€11,753 | -29.2% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €686,594 | €724,299 | +€37,704 | +5.5% |
| Amounts receivable within one year | 40/41 | €3,018 | €6,079 | +€3,061 | +101% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,018 | €6,079 | +€3,061 | +101% |
| Current investments | 50/53 | €600,112 | €602,502 | +€2,390 | +0.4% |
| Cash at bank and in hand | 54/58 | €80,457 | €114,084 | +€33,627 | +41.8% |
| Deferred charges and accrued income | 490/1 | €3,008 | €1,634 | -€1,375 | -45.7% |
| Total equity and liabilities | 10/49 | €733,144 | €758,429 | +€25,285 | +3.4% |
| Equity | 10/15 | €583,836 | €599,141 | +€15,305 | +2.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €571,436 | €586,741 | +€15,305 | +2.7% |
| Distributable reserves | 133 | €571,436 | €586,741 | +€15,305 | +2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,308 | €159,288 | +€9,980 | +6.7% |
| Amounts payable within one year | 42/48 | €125,599 | €142,224 | +€16,625 | +13.2% |
| Trade debts | 44 | €1,735 | €2,050 | +€315 | +18.1% |
| Suppliers | 440/4 | €1,735 | €2,050 | +€315 | +18.1% |
| Taxes, remuneration and social security | 45 | €14,486 | €15,564 | +€1,078 | +7.4% |
| Taxes | 450/3 | €14,486 | €15,564 | +€1,078 | +7.4% |
| Other amounts payable | 47/48 | €109,378 | €124,610 | +€15,232 | +13.9% |
| Accrued charges and deferred income | 492/3 | €23,709 | €17,064 | -€6,645 | -28.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,420 | €12,420 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,245 | €1,438 | +€193 | +15.5% |
| Gross operating margin | 9900 | €171,790 | €154,393 | -€17,397 | -10.1% |
| Operating profit (loss) | 9901 | €158,125 | €140,535 | -€17,590 | -11.1% |
| Financial income | 75/76B | €44,234 | €16,156 | -€28,078 | -63.5% |
| Recurring financial income | 75 | €44,234 | €16,156 | -€28,078 | -63.5% |
| Financial charges | 65/66B | €2,489 | €149 | -€2,339 | -94.0% |
| Recurring financial charges | 65 | €2,489 | €149 | -€2,339 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €199,870 | €156,542 | -€43,328 | -21.7% |
| Income taxes | 67/77 | €59,888 | €45,544 | -€14,344 | -24.0% |
| Profit (loss) for the period | 9904 | €139,982 | €110,998 | -€28,984 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,982 | €110,998 | -€28,984 | -20.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.